Steel Tariff War
President Bush’s attempt to protect American steelworkers backfired spectacularly in 2002. His 30% steel tariffs aimed to save U.S. jobs but raised prices for domestic manufacturers using steel. The EU retaliated with targeted duties on Florida oranges and Harley-Davidson motorcycles worth $2 billion. The WTO ruled against the U.S., forcing Bush to repeal the tariffs just 21 months later.
